BRIEF-Elektrobit to develop mobile devices in Mexico

Redacción de Reuters

1 MIN. DE LECTURA

May 2 (Reuters) - Elektrobit Oyj :

* Said on Saturday Elektrobit Wireless Communications Ltd and the Ministry of Mexican Communication and Transportation had signed an agreement regarding the development of three types of android-based L-band mobile devices

* Value of this development agreement is approximately $21.9 million (approximately 19.5 million euros as per exchange rate of May 1, 2015)

* Revenues expected to be generated under this agreement during 2015 have already been anticipated in EB’s outlook for 2015 and will thus not cause changes to the 2015 outlook

* Assuming that the development work proceeds as planned, these mobile phone variants are expected to be ready for actual product deliveries from the beginning of 2017